The altcoin market is showing early signs of recovery ahead of Wednesday’s Consumer Price Index (CPI) data from the U.S. Bureau of Labor Statistics. Leading the charge are XRP and Sui (SUI), which have posted mild gains after the recent market-wide liquidation event. With the leveraged crypto futures and spot market cooling off, analysts anticipate a potential rebound in the coming days.
Sui Price Chart Signals a Potential Reversal
Sui (SUI) has been trading within a falling channel since reaching its all-time high (ATH) of approximately $5.3 earlier this year. However, recent price action suggests a possible trend reversal, as SUI has rebounded from the lower border of its logarithmic downtrend.
Currently, SUI is testing a crucial support zone between $2 and $2.39. A decisive close above $5.3 could confirm a macro bullish breakout, potentially setting the stage for significant gains in the coming weeks. Given its fully diluted valuation of $22 billion and a daily trading volume of around $1 billion, Sui remains one of the most closely watched large-cap altcoins.
Regulatory Tailwinds Could Fuel a Parabolic Rally
Beyond technical indicators, the broader crypto market is poised for a parabolic rally, driven by a changing regulatory landscape in the United States. With institutional interest in cryptocurrencies growing, the potential approval of spot ETFs for various altcoins, including Sui, is gaining momentum.
Spot Sui ETF: A Growing Possibility?
The Sui ecosystem has rapidly expanded, with its total value locked (TVL) surpassing $1 billion and a stablecoin market cap exceeding $638 million. Furthermore, Web3 projects building on Sui raised an impressive $200 million in the first quarter of 2025, signaling strong investor confidence.
Currently, VanEck offers a Sui Exchange Traded Note (ETN) on Deutsche Börse and Euronext. While not a spot ETF, its success could encourage other fund managers, such as Canary Capital, to file for a spot Sui ETF in the near future.
Also Read: XRP Lawsuit Nears Resolution? April 16 Marks Key Date Amid Settlement Speculation
As the market awaits the CPI report, investors will closely watch whether Sui can maintain its bullish momentum and break out of its prolonged downtrend.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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